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Aircrane Support Parts, net

9 Months Ended

Sep. 30, 2012

Note 5. Aircrane Support Parts, net

Aircrane support parts consist of Aircrane parts, overhauls of certain major components, and work-in-process which are valued at the lower of cost or market utilizing the first-in first-out method. Costs capitalized for Aircrane support parts include materials, labor, and operating overhead. Overhauls on certain major components are capitalized, and then amortized based on estimated flight hours between overhauls.

Aircrane support parts consisted of the following (in thousands):

	September 30, 2012			December 31, 2011

Aircrane parts	$	67,484		$	50,572
Major component overhauls		32,787			30,777
Work-in-process		22,301			25,593
Less: Excess and obsolete reserve		(4,505	)		(5,050	)

	$	118,067		$	101,892

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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